Misaligned Incentives Between GPs and Founders with Altimeter's Jamin Ball | E2045

In this episode, Jamin Ball and Alex Wilhelm explore the intricate dynamics between venture capitalists and founders, focusing on incentive alignment and the demand for venture capital allocation. They compare returns from small versus large venture funds and discuss the effects of rapid fundraising cycles on founders. The conversation delves into the impact of venture capital on startup M&A activity and the valuation disparities between public and private markets. They offer insights on the future of startup liquidity, AI's role in startup growth, and trends in SaaS multiples. Jamin shares his investment outlook and expectations for IPOs and startup exits in the coming year, highlighting promising companies and market differentiation.

Speakers

AI Chat

Jamin Ball

Guest • 67%

Bianca Veltri

Host • 1%

Alex Wilhelm

Host • 25%

CLA

Guest • 1%

Jason Calacanis

Host • 6%

Partners

Chapters

0:00	Jamin joins Alex to kick off the show
6:30	Alignment of incentives between VCs and founders
10:25	LinkedIn Jobs - Post your first job for free at https://www.linkedin.com/twist
11:54	Venture capital allocation demand and its impact
15:55	Comparison of returns between small and large venture funds
21:54	Beehiiv - Get 30 days free and 20% off your first 3 months at https://www.beehiiv.com/twist
23:23	Power laws in startups and venture capital's impact
24:19	Effects of rapid fundraising cycles on founders
31:33	CLA - Get started with CLA's CPAs, consultants, and wealth advisors now at https://claconnect.com/tech
32:59	Raising large rounds and long-term commitments
35:15	Venture capital's influence on startup M&A activity
37:38	Public vs private market valuation disparities
39:24	Future of startup liquidity and exit scenarios
46:06	Proposals for realigning venture capital funds and founder incentives
47:41	Impact of AI on startup growth and venture capital
52:20	SaaS multiples and cloud software market analysis
57:43	Software spending trends and startup optimism for 2024
1:00:15	Procurement scrutiny in startup budgets and market differentiation
1:01:17	Promising companies and Jamin Ball's investment outlook
1:01:28	Expectations for IPOs and startup exits in the coming year

Transcript

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